Waterbury CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Waterbury, CT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Waterbury Housing Market Information

With 108,093 people, 40,579 houses or apartments, and a median cost of homes of $149,493, house prices in Waterbury are solidly below the national average.

Single-family detached homes are the single most common housing type in Waterbury, accounting for 36.77% of the city's housing units. Other types of housing that are prevalent in Waterbury include duplexes, homes converted to apartments or other small apartment buildings ( 31.66%), large apartment complexes or high rise apartments ( 28.14%), and a few row houses and other attached homes ( 3.23%).

People in Waterbury primarily live in small (one, two or no bedroom) single-family detached homes. Waterbury has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waterbury's housing was primarily built during this period, from the '40s through the '60s. A full 33.61% of the city's housing hails from this era. Other housing ages represented in Waterbury include homes built before 1939 ( 31.87%) and housing constructed between 1970-1999 ( 31.13%). There's also some housing in Waterbury built between 2000 and later ( 3.39%).

Vacant housing appears to be an issue in Waterbury. Fully 14.33% of the housing stock is classified as vacant. Left unchecked, vacant Waterbury homes and apartments can be a drag on the real estate market, holding Waterbury real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Waterbury Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Waterbury, where house values have increased just 2.12%, which is annualized rate of 0.21%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Waterbury that despite a nationwide downturn in the housing market, Waterbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waterbury appreciation rates continue to be some of the highest in America, at 10.42%, which is higher than appreciation rates in 94.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waterbury. Waterbury appreciation rates in the latest quarter were at 1.13%, which equates to an annual appreciation rate of 4.59%.

Relative to Connecticut, our data show that Waterbury's latest annual appreciation rate is higher than 90% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Waterbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waterbury - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Waterbury real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$149,493

Waterbury, CT HOME PRICES

Value Range
> $1,196,000 0.4
$897,001 - $1,196,000 0.0
$598,001 - $897,000 0.5
$479,001 - $598,000 0.5
$359,001 - $479,000 2.7
$239,001 - $359,000 9.1
$120,001 - $239,000 57.9
$60,001 - $120,000 23.9
$0 - $60,000 5.1

Very Low for CT
Low for Nation

Value Relative to Nation Value Relative to State
60.8175182481752 100.0

Number Of Homes And Apartments:
40,579

Waterbury Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
31.94% 1.38%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,348 / per month

Homeownership Rate

Homeownership
Owners 41.86
Renters 58.14
Vacant 14.33

Housing Market Details

 

Age of Homes

AGE OF Waterbury HOMES
2000 or Newer 3.4
1970 - 1999 31.1
1940 - 1969 33.6
1939 or Older 31.9

Types of Homes

TYPE OF Waterbury HOMES
Single-Family 36.8
Townhomes 3.2
Small Apt. Buildings 31.7
Apt. Complexes 28.1
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Waterbury HOMES
No Bedroom 3.20
1 Bedroom 14.21
2 Bedrooms 38.02
3 Bedrooms 34.76
4 Bedrooms 8.05
5 or more bedrooms 1.75